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Timing can be all. And, according to some estimates, selecting the correct time to purchase or sell a house might save you tens of thousands of bucks.

Best time to sell

While there is a tendency for customers to choose from more inventory in the spring, there is generally more competition as well, which is good for vendors.

After evaluating states some Experts concluded actual property information, the Experts up with that report. It showed that May had the largest sales amount compared to any other month of the year and that prices tended to be greater.

Possible reasons for that is that aside from nicer weather, a home tends to show better in spring and summer. More buyers may also be ready to buy as they might be using their tax refunds for the down payment. Plus, if they have kids, moving in summer means schooling isn’t interrupted.

Report added that selling in May can get you $60,000 more than if you were to sell in January, on average over the past five.

Best time to buy

“If someone lists a house in the winter, it’s a pretty secure bet they’re keen vendors and more open to negotiation. If not, they’d wait for the spring, a Reporter said”.

Also, sellers may be more driven to accept an offer in January as the holiday credit card bills start rolling in, Reporter said. Purchasers can also enjoy the holidays themselves.

“The house of somebody can be an emotional attachment, so the vendor thinks, ‘ If they are prepared to create an offer on Christmas Day of all days, they must really enjoy this house.’

“And another factor that comes into play is … individuals are in nice and generous moods on Christmas Day so they might very well be prepared to accept less cash than they usually would any other day..”

During the holidays, people who are just sick and tired of shows can be another motivator, like B.C. Realtor’s point was made. She said she had some “very nice offers” about Christmas for customers.

In the first half of 2019, luxury real estate sales flourished in Montreal with property sales jumping over $4 million by triple digits, but continued to decline in Vancouver, a fresh study says.

“Canada’s top-tier real estate markets veered in separate directions,” read a report released Wednesday by Sotheby’s International Realty Canada, which tracked the number of condominiums, townhouses and detached homes sold for over $1 million and $4 million in major Canadian cities.

The agency has previously forecast Montreal as an emerging hot stop set to make new records.
In the first half of 2019, property sales in excess of $1 million jumped five percent relative to the same period last year..

Sales of properties over $4 million soared 267 per cent with 11 properties sold. Three such properties were sold in the first half of 2018.

Experts from the agency observed an rise in global buyers — a group that, according to the study, involves new Canadians, permanent residents, and investors as overseas buyers ‘ taxes in Toronto and Vancouver redirected global buyers to Montreal.However, the group still composes “a small percentage of overall top-tier sales activity” in the city, it said.

Meanwhile, in Vancouver’s formerly heated housing market, luxury property sales continued to drop due to fallout from government intervention.

The market continued to bear the burden of tightened mortgage rules, multiple governmental policies and taxes, and hesitant sellers and fickle buyers lacking motivation to commit to transactions,” the report read.
Homes sold for over $1 million fell 33 per cent to 1,308 properties, while homes sold for more than $4 million fell 34 per cent to 73 homes.

Evolving conditions in Vancouver real estate have created opportunities for prospective top-tier real estate buyers to consider housing options previously out of reach,” the report said, adding some potential buyers who were considering condos priced at more than $1 million have likely now shifted their focus to attached or detached homes instead.

Sales of condos over $1 million fell 51 per cent in the first six months of this year from 708 condos sold between January and June 2018 to 349 in the same six months of 2019.

“The continued adjustment of housing prices is expected to renew interest and activity in the future,” the report noted of Vancouver’s single family homes priced over $1 million.

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